Bitcoin appears poised to end the year with losses, following one of its weakest fourth-quarter performances in recent memory. However, relief may arrive in the new year of 2026, as many in the market anticipate. A recent analysis suggests Bitcoin’s price structure indicates a deeper correction could be ahead for the leading cryptocurrency.
Could BTC Revisit $73,000 in Q1 2026?
In a December 20 post on X, quant trader CryptoOnchain offered fresh perspective on Bitcoin’s current price setup. The analyst notes that BTC’s outlook is leaning bearish, especially as selling pressure continues to show on the charts.
CryptoOnchain observed that Bitcoin’s price is hovering around a key level known as the Point of Control (POC). This refers to the price point with the highest trading volume over a given period, often acting as a significant support or resistance zone.
According to the analyst, Bitcoin’s inability to swiftly reclaim its former highs increases the likelihood of a break below this POC, potentially toward the $70,000 to $73,000 range. CryptoOnchain identified this area—the peak of the last cycle—as a crucial “support flip” zone where buyers could aggressively re-enter the market.
Furthermore, CryptoOnchain pointed to a diverging Relative Strength Index (RSI) as additional evidence supporting a potential drop to the $70,000-$73,000 support cushion. “Traders should watch for reversal triggers around the $72,000 level,” the analyst advised.
However, the analyst warned that holding the $70,000-$73,000 zone is critical. A failure to do so could lead to an even deeper correction and a prolonged bear market for Bitcoin. Essentially, this “support flip” is vital for BTC to resume its long-term bullish trend and maintain its broader upward trajectory.
Bitcoin traded in the sub-$75,000 range during the first quarter of this year amid global market turmoil sparked by an emerging trade war. A return to these levels might feel familiar to investors, though it would also represent a decline of nearly 20% from the current price.
Bitcoin Price Snapshot
As of this writing, Bitcoin is trading around $88,330, showing little change over the past 24 hours.
Frequently Asked Questions
FAQs Analyst Outlines Bitcoins Potential Path to 70000
BeginnerLevel Questions
1 What does it mean when an analyst says Bitcoin could reach 70000
It means that based on their research of market trends investor behavior and economic factors they believe the price of one Bitcoin has a strong chance of rising to that value from its current level
2 Why is 70000 a significant target
70000 is significant because its near Bitcoins alltime high price Reaching it again would signal a recovery of the previous bull markets peak and could indicate the start of a new upward trend
3 What are the main reasons an analyst might think this is possible
Common reasons include increased buying from large institutions a reduction in new Bitcoin supply and a general improvement in investor sentiment toward riskier assets
4 Is this a guarantee that Bitcoin will hit 70000
No it is not a guarantee Price predictions are educated estimates not certainties The cryptocurrency market is highly volatile and prices can change rapidly due to news regulations or global events
5 What is a price target in investing
A price target is a projected future price level for an asset like Bitcoin that an analyst believes it can achieve within a specific timeframe based on their analysis
Advanced Practical Questions
6 What specific technical analysis patterns or indicators are pointing to 70000
Analysts often look at key resistance levels being broken moving averages aligning bullishly and momentum indicators like the Relative Strength Index showing strong buying pressure without being overbought A sustained move above certain levels could pave the way to 70000
7 How does the approval of Bitcoin ETFs affect this price target
Spot Bitcoin ETFs allow traditional investors to buy Bitcoin easily through their regular brokerage accounts This creates a massive new source of potential demand which can significantly increase buying pressure and help drive the price toward higher targets like 70000
8 What role does the halving play in this analysis
The halving cuts the reward miners earn in half reducing the rate of new Bitcoin supply Historically this decreased